We submitted a full mortgage app with them on the evening of 21st Feb - so just over 3 wks ago, after receiving DIP, all via a broker, we have a Ltd company so was always going to go to underwriters despite good LTV etc.
1 week in Broker said all good and expected certificate/loan papers in next 3 days. Then all of a sudden things changed, our ID wasn't clear enough (it was) no worries re submitted same day then days went by and were ask to submit a balance sheet - even tho they had tax computations and our full accs, then another few days went by and they wanted a P&L. All fine but odd as the information in those they already had via first two docs, they didn't show anything more - eveyone seemed confussed as to what they thought they would add - underwriter not forthcoming. But again no worries - our acc has been brill and we had the docs to them within 24 hrs of asking (within hours for the P&L).
This was a week ago now. Our vendors are rightly getting twitchy - as are we, completetion set for 18th April and we have to give a months notice on rental. So we either brave asking to put it back or it costs us.
I don't think we have any choice but to stick with current completion as vendors depserate to sell and are getting testy - I think they may pull out. But our rent is nearly 2k a month!
I don't understand why it was fine and then wasn't.
Our sol chased broker this Weds morning just gone and he said it was 'agreed' but was going through final checks and we should hopefully hear in next 3 working days - but nothing more as of today.
We're in Scotland btw and the valuation was done two full weeks ago now - didn't hear it didn't so assume that went fine. House only a couple of years old and is on a new build estate.
Had a look online and it general ancedotal seems to 6-9 weeks for a HSBC to go the underwriters and then there is a thread on Reddit that someone had recently posted at the 8 week mark - seem they just ended up starting again with Santander and still hadn't heard anything from HSBC at neary 3 months 😓